Tanger Inc. (NYSE:SKT) Shares Purchased by Algert Global LLC

Algert Global LLC raised its position in shares of Tanger Inc. (NYSE:SKT) by 256.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,881 shares of the real estate investment trust’s stock after purchasing an additional 61,801 shares during the period. Algert Global LLC’s holdings in Tanger were worth $2,328,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Tanger by 44.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 393 shares during the period. Maryland State Retirement & Pension System boosted its stake in Tanger by 1.3% during the 1st quarter. Maryland State Retirement & Pension System now owns 38,802 shares of the real estate investment trust’s stock valued at $1,146,000 after purchasing an additional 512 shares during the period. EMC Capital Management lifted its stake in shares of Tanger by 5.1% in the 1st quarter. EMC Capital Management now owns 14,274 shares of the real estate investment trust’s stock worth $422,000 after acquiring an additional 697 shares during the period. American International Group Inc. lifted its stake in shares of Tanger by 1.5% in the 1st quarter. American International Group Inc. now owns 56,590 shares of the real estate investment trust’s stock worth $1,671,000 after acquiring an additional 813 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Tanger by 1,412.1% in the 2nd quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 819 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Tanger Stock Down 0.9 %

NYSE SKT opened at $32.66 on Thursday. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.13 and a quick ratio of 0.13. The company’s 50 day simple moving average is $29.90 and its 200 day simple moving average is $28.41. Tanger Inc. has a 12 month low of $21.42 and a 12 month high of $33.26. The company has a market capitalization of $3.57 billion, a P/E ratio of 35.89, a PEG ratio of 3.35 and a beta of 1.89.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a $0.275 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.37%. Tanger’s payout ratio is currently 120.88%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Scotiabank upped their price target on shares of Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Evercore ISI upped their price target on shares of Tanger from $29.00 to $31.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, Compass Point upped their price target on shares of Tanger from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Tanger presently has a consensus rating of “Hold” and a consensus price target of $31.33.

About Tanger

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.